March 26, 2010.

Dear Mr Ives,

We have received instructions to act for First National Real Estate Framptons, and in particular to respond to your e-mail to our client of 23 March 2010. Please note that both Mr Forrest and Mr Doyle will be interstate on Saturday 27th of March 2010, and accordingly will be unable to attend at a group meeting on that day.
As indicated in our client's letter to various parties of 11 March 2010, our clients are willing to meet to discuss issues with affected parties. We expect that each party's circumstances will need to be fully and properly considered to ascertain individual situations and consider what avenues are available to them, and what assistance our client may be able to render. Our client does not consider a group meeting will assist in that process and declines to participate in any such group meetings.
Individual meetings with affected parties and their representatives can be arranged through the writer (who will attend at such initial meetings) to ascertain the status of the relevant construction, and thereby to determine what steps are required to achieve completion. This will then enable our client to consider how they may be of assistance in this process. These meetings are to be conducted on a without prejudice basis, and in light of current media commentary, will be required to be confidential between the parties. A form of Confidentiality Agreement required by our client is attached which will need to be signed by all parties including spouses to provide mutual obligations of confidentiality in relation to these matters.
Based on legal advice provided to our client, our client will not be entering into any discussions relating to the various circumstances giving rise to the current situation, however our client will be genuinely concerned to examine and determine how they may be able to offer support in the completion process.
Accordingly, we invite affected parties to contact the writer to proceed on the foregoing basis should they wish to do so.


PEER SCHROTER | Lawyer Director
POVEY STIRK Lawyers & Notaries

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